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Ashneer Grover slams tech companies for firing employees and asks founders to take pay cuts instead

Ashneer Grover, a co-founder of BharatPe, has recently made headlines for both his new business and the fact that he was excluded from Shark Tank India Season 2. Grover has always been outspoken about the things he disagrees with. Ashneer Grover does not support layoffs this time around. Grover claimed in a recent LinkedIn post that he has never had to terminate workers as a result of weak markets.

Providing the justification, Grover claimed that he has “considerately” hired everyone. Ashneer Grover stated on LinkedIn: “It’s upsetting to hear about firings every day. I’m grateful that I’ve never had to terminate someone due to poor economic conditions because I’ve always made thoughtful hiring decisions. As a founder, you must consider the long term.

According to the co-founder of BharatPe, companies should contemplate compensation reductions of 25% to 40% rather than mass layoffs. Grover stated in the same post that he doesn’t get why entrepreneurs can’t choose this option instead. “I had previously announced a pay decrease of between 25 and 40 percent as an alternative to mass layoffs.

Ashneer Grover also stated in the LinkedIn post that the hiring limit for his new firm, The Third Unicorn, is 50 individuals. He also emphasized that new team members just needed to concentrate on progress. “I’m glad I set a limit of 50 persons for The Third Unicorn. People joining me only need to worry about development and growth since I’ve got their backs “Grover composed.

Grover’s statement follows the announcement of mass layoffs by numerous Big Tech companies, including Microsoft, Google, Meta, Amazon, and many others. Just last week, Microsoft and Google jointly announced the termination of 22,000 employees, many of whom were based in India.

Swiggy announced over 400 job cuts last week and cited macroeconomic factors as the cause. The founder further claimed that because of his over-hiring, hundreds of workers are currently out of work. “As part of a reorganization process, we’re putting into action a very painful choice to reduce the size of our workforce. We will be saying farewell to 380 talented Swiggsters during this process. I’m sorry to all of you for having to make this decision, which was extremely tough to make after considering all of the possibilities “the CEO of Swiggy remarked.

Harsh Soni
Harsh Soni
Harsh is pursuing a graduation in Medicine. He has been working as a creative writer and news editor for the past 4 years. He is passionate about writing and learning new concepts.
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